Ambridge Borough Police Pension Plan – Beaver County – Audit Period Ended December 31, 2023

A compliance audit was conducted on the Ambridge Borough Police Pension Plan in Beaver County, Pennsylvania, based on authority from the Municipal Pension Plan Funding Standard and Recovery Act (Act 205 of 1984). The audit aimed to ensure the pension plan complied with applicable state laws, regulations, contracts, and local ordinances from January 1, 2019, to December 31, 2023. It examined state aid deposits, employer and employee contributions, and compliance with certain plan provisions. The audit found general compliance but noted an issue of untimely deposits of state aid in 2020-2023. Recommendations were made to pay the pension plans the interest accrued due to these delays and to improve internal control procedures to prevent future occurrences. The municipality agreed with the findings, and future compliance will be reassessed in subsequent audits.